Etisalat reveals further overseas targets

18 Oct 2006

UAE’s incumbent telco Etisalat has announced it wants controlling stakes in Greek cellco TIM Hellas, former wireline monopoly Sri Lanka Telecom and Yemeni mobile operator Sabafon. It reportedly placed a non-binding bid for TIM Hellas earlier this week. Chief executive Mohammed al-Qamzi said in an interview, ‘We are looking for controlling stakes in…existing operators…because it takes a short amount of time to develop them and you get a quick return.’ Etisalat presently has stakes in telecoms companies in 13 countries, with plans to acquire operations in eight more.

Greece, United Arab Emirates, Etisalat UAE, SabaFon, Sri Lanka Telecom (SLT), Wind Hellas (OLD don't use)